Bayinnaung Market

Bayinnaung Market
Location Mayangon 11062, Yangon
Yangon Division, Myanmar
Coordinates 16°51′59″N 96°06′26″E / 16.86639°N 96.10722°E / 16.86639; 96.10722Coordinates: 16°51′59″N 96°06′26″E / 16.86639°N 96.10722°E / 16.86639; 96.10722
Opening date 1990[1]

Bayinnaung Market (Burmese: ဘုရင့်နောင်ဈေး; also Bayintnaung Market), located in northwestern Yangon, is the largest agricultural commodities trading market in Myanmar. Established in 1990, the market complex consists of two-story shop houses with floor areas of 1200 and 2,400 square feet (220 m2).[1] It is the only legally permitted wholesale center of beans and pulses in the country, which exported 1.34 million tonnes of beans and pulses in 2007 for a total value of US$750 million.[2][3]

Matpe is the most common bean and pulse export at the market.[4] In August 2009, about 4000 tonnes of matpe, green mung, pigeon peas and chickpeas were traded daily.[3] The market is also the main wholesale center of dried fish and prawns for mainly domestic markets.[5]

The market is at the center of the planned Internet-based commodities information network that will link all of the country's wholesale commodity exchange centers, to achieve consistent pricing and operations in line with international market prices.[6][7] Myanmar’s wholesale commodity exchanges are currently only connected by telephone.[6] As of October 2008, only Banyinnaung has the system, which displays local prices for beans and pulses in real time. Domestic and international prices for edible oil crops, onions, garlic, potatoes, chili are expected to be added soon.[7] Since August 2009, the Myanmar Pulses, Beans and Sesame Seed Merchants’ Association requires that all domestic and international transactions be concluded here at Bayinnaung Market.[3]

References

  1. 1 2 Zaw Htet and May Thanda Win (2006-09-04). "Market reforms lead to Bayintnaung boom". The Myanmar Times.
  2. ↑ Yi Yi Htwe (2008-10-06). "Bank, exporters gamble on higher prices". The Myanmar Times.
  3. 1 2 3 Thaik Zin (2009-08-31). "Beans and pulses markets level out". The Myanmar Times.
  4. ↑ Tin Moe Aung (2007-04-09). "Beans and pulses traders anticipate export price rise". The Myanmar Times. Archived from the original on October 5, 2007.
  5. ↑ Win Nyunt Lwin (2003-08-04). "Dried fish and prawns an affordable luxury". The Myanmar Times.
  6. 1 2 Htin Kyaw (2008-09-08). "No completion date set for comms trading network". The Myanmar Times.
  7. 1 2 Htin Kyaw (2008-10-06). "Bayintnaung launches E-information system". The Myanmar Times.

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